All Forum Posts by: Jawad Ihmoud

sound's great,  I'm curious to know what happens. Keep us updated. Low ball him at 70,000 to 80,000 if you have too. It seems like an easy deal from what you're telling us. One more piece of advice is to go to your local sheriff and ask him what your options would be when it comes time to evict.

something great you can also do is tell the owner that it's going to be a lot of trouble getting them out and If it goes to court I have to spend this much money. I'll sign an option to buy contract for 80,000. Low ball him and show him all the potential problems you might be facing. I assure you that a guy like him just wants to get rid of the house because it seems like it's a pain and he's making no money off of his tenants. Tell him 80,000 and use those negotiation techniques

What I would do is sit down with the tenants and explain to them in a very polite way that you will be buying the home and once that happens there are two options they will have. The first option is I will give you X days to move out and X amount of cash to take with you. The second option would be for me to take you to court, have the sheriff evict you and you and I would not want that because court fees are going to cost more than it would to simply move out and in the end the you guys don't have a lease agreement that would help your case.. so take this cash and I'll give you X amount of days to move out. Be firm and polite And actually follow through if they choose the second option. 

How can I find the exact amount someone owes on their home, whether taxes, leins, mortgage? Anything. 

Thank you for your time

My question is, when do I do my due diligence?  Do I make the property owner sign an "option to buy" contract then in that window of time I get contractors to bid on the property and then I give the home owner an offer after the estimates come in? If that is incorrect or correct may you please add on. Thank you, your time is well appreciated. 

@andy v. What's the name of your conpany?

I have a few questions.

Okay, I get a call from a potential motivated seller, what do I ask from them? Do I ask for their address and how much they owe so that I may do research to find out if it's worth going after? How do I know that they actually owe this much on their house? Is there more to this process?

If the lead is good, do I need to find contractors to do bids before or after I buy it and/or do I set up a contract that allows me to do my due diligence? In better terms what does a wholesale contract consist of? Does it consist of due diligence time, do I buy it and then market it to buyers or does the contract state that I have a certain amount of days to find a buyer before I buy the property and if I am unable to find anyone  can I end the contract?

For those who have a nice wholesaling contract I would appreciate it if I can take a look at it so I may send it to my lawyer and see if I can use it in my area.

For those who answer these questions I truly appreciate it and thank you for your time.

My advice, i don't know if it was stated above, would be to make 2-10% payments towards your student loans with every deal you close. Look at the loans like a monthly bill so that you will be more motivated to make more money to "make ends meet"

@crystal Smith thank you for your input. In what park of Illinois are you located?

Thank you 

@ericblack very helpful